Big industry output grows for 6th straight month in May

The Large-Scale Manufacturing (LSM) sector grew for the sixth consecutive month, with a 7.33 per cent increase in May, according to data released by the Pakistan Bureau of Statistics on Thursday. The quantum index of LSM industries was 113.90 points in May compared to 106.12 in the same month last year. However, it surged from April’s 105.94 points. For the outgoing fiscal year’s first 11 months (July to May), the LSM shows a paltry growth of 0.99pc year-on-year to 116.48 points. The PBS data showed the cumulative change in the index was negative for the 20th month in a row, i.e., since July 2022. Twelve out of 22 sectors recorded negative growth during 11MFY24. These sectors included chemicals, beverages, tobacco, textiles, paper and board, non-metallic mineral products, iron and steel products, fabricated metals, computers, electronics and optical products.